GLENDALE, Calif., July 7, 2015 /PRNewswire/ -- Coronal Group LLC (Coronal) and Panasonic Eco Solutions (Panasonic) announced the completion of the 220-acre Coronal Lost Hills Solar Project, which generates enough emission-free solar energy to power approximately 5,200 Southern California homes through a 20-year Power Purchase Agreement with Southern California Edison (SCE).
"The successful, on-time completion of the Lost Hills project is further proof of both the success of our platform and of growing interest among utility companies to transition projects to the Coronal-Panasonic team to complete and manage," said Jonathan Jaffrey, CEO of Coronal. "Together with Panasonic we now own and operate a portfolio of solar facilities in North America totaling nearly 100 megawatts (MW)."
The 26 MWdc (20.00 MWac) Coronal Lost Hills project generates 54,620 MWh of emission-free solar power, the equivalent of taking 8,000 cars off the road. The project, built by Panasonic and Swinerton Builders, uses photovoltaic (PV) panel technology mounted on horizontal-axis trackers that rotate with the sun's position in order to optimize electricity generation. This project contributes to SCE's fulfillment of California's Renewable Portfolio Standard requirements.
"The Coronal Lost Hills project, completed in just under five months, exemplifies the Coronal-Panasonic team's ability to execute agreements and quickly bring solar projects into operation," said Jamie Evans, who leads Panasonic's U.S. Eco Solutions business. "Utility-scale solar projects, like the Coronal Lost Hills project that provides electricity for 5,200 homes, are vital to meeting the demand for clean, sustainable energy across North America."
About Coronal Group LLC
Coronal Group is an alternative energy firm that finances and operates solar PV projects for institutions, municipalities, corporations and non-profit organizations throughout the U.S. and Canada. The Coronal team, which brings more than 80 collective years of successful asset and investment management experience, and a strong record of solar project development, has been recognized by the White House Office of Innovation and Civic Participation as thought leaders in the solar industry.
The Coronal-Panasonic partnership delivers a comprehensive end-to-end solution to facilitate the development and commercialization of solar PV projects in the commercial, municipal and utility markets from inception to commercial operation. Services include construction and equity financing, engineering, procurement and construction (EPC) and the operations and maintenance (O&M) of the systems. For additional information, please visit CoronalGroup.com.
About Panasonic Enterprise Solutions Company
Panasonic Enterprise Solutions Company, a division of Panasonic Corporation of North America, develops, installs and maintains large-scale Eco Solutions and Audio-Visual Solutions for business and municipal customers. Serving customers across a wide range of industries, Panasonic Enterprise Solutions engineers custom-built applications using the latest technology, experience in end-to-end management of complex corporate projects and unparalleled onsite support services. Its Eco Solutions unit offers expertise in end-to-end solar energy projects while also delivering technological and financial solutions to the rapidly expanding commercial and industrial renewable energy markets. An industry leader in Audio-Visual Solutions, the company has installed some of the largest high-definition LED video boards in the world at many well-known sports and entertainment venues in the U.S. In Interbrand's 2014 annual "Best Global Green Brands" report, Panasonic ranked number five overall and the top electronics brand in the report. Learn more about Panasonic at http://shop.panasonic.com/latest-news.
SOURCE Coronal Group LLC